Bush extends Iranian asset freeze

President George W. Bush on Friday extended by one year a freeze of Iranian government assets in the United States that has been in place since the 1979 Islamic revolution, the White House said.
The measure was ordered by then president Jimmy Carter on November 14, 1979, 10 days after students took over the U.S. embassy in Tehran where they eventually held about 60 hostages for 444 days. The crisis led to the end of U.S.-Iranian diplomatic relations in 1980. The asset freeze, which has been renewed every year, is a source of resentment in Iran. Washington has since reinforced a sanctions regime on the Islamic Republic. The United States is also pushing for UN sanctions to punish Iran for its refusal to halt its nuclear program.source